The golden years of capitalism. Genesis, development and crisis of the mixed economy (1950-1973)

Abstract

This paper aims to address the functioning of the Western economy in the period between 1950 and 1973. With those spatial and temporal coordinates in mind, a tripartite scheme is proposed. In the first part, we will proceed to a description of that stage of economic super-growth that covered the third quarter of the 20th century, paying special attention to industrial development and productive innovation. Then, in a second section, an explanation for this phase of exceptional prosperity will be tested. In this segment of the text, distance will be taken from a "blind supply", exploring the conditions that led to an authentic explosion of demand (restructuring of capitalism and the first milestone of globalization). Finally, in a third moment, an approach to the causes that ended the "golden years" is proposed, modeling a narrative in which monetary, demographic, social and economic factors are linked. In methodological terms, as a teaching material, the article draws on literature on the subject, but also on statistical sources, cartographic resources and period images.